Age Pension Age is going up for men and women.

If you were born after June 1952 then you will be waiting a little longer for your Age Pension.

Women born after 1948 have the same Age Pension Age as men. The Age Pension Age for women has been increased in small steps over the two decades from 60 years to 65 years.

The next phase will have the Age Pension Age increase by six months every two years with the first increase applying in July 2017. The Age Pension Age increases to 67 years as the final step in this next phase.

Deferring the potential start date for an Age Pension and our expectation of living longer on average implies that we would be financing a longer retirement period. If you want a comfortable lifestyle during your active retirement years then now could be the time to start seriously planning your finances.

Financial Care Services offers consultations to help you plan your finances for an active retirement. Your potential entitlements from Centrelink could be assessed and included in your personal financial plan.To book your appointment please call 03 9808 0338.

Disclaimer: The information contained in this newsletter is of a general nature only and does not constitute “financial advice”. You should obtain your own personal financial advice before investing any money or moving in to any retirement village, lifestyle community or aged care facility. Financial Care Services is licensed to provide financial advice to individual clients based on their personal situations.